THE UK’s leading share index fell yesterday with financial stocks dropping sharply ahead of the lifting of restrictions on short selling on Monday.

Jan 14 2009 by Graeme King, The Journal

Royal Bank of Scotland tumbled 3.9p to 51.3p, Lloyds TSB lost 7.7p to 133p and HBOS fell 3.1p to 81p. The FTSE 100 closed the day down 27.04 points at 4,399.15.

Tesco reported Christmas sales which came in slightly ahead of forecasts.

The UK’s biggest retailer by sales and market value said like-for-like sales in the seven weeks to January 10 rose by 2.5%, greater than consensus forecasts of 2.4%. The shares ticked up 1.3p to 351.6p.

Northern Foods, rose 5.5p at 61.25p.

The company, which makes ready meals and other products for supermarket chains, said its underlying third quarter sales rose 3% after a strong showing from its line of chilled ready meals.

Premier Foods, which has the Hovis bread and Branston pickle brands, reported a 9% rise in full-year group sales.

The shares closed 1.5p higher at 37.5p.

Michelle Stansby – associate director, Barclays Wealth